New South Bank Files Applications to Launch Tampa‑Based Bank
For Immediate Release
TAMPA, FL — April 20, 2026
A group of successful, experienced banking and business leaders announced the formation of New South Bank, a proposed Florida state-chartered commercial bank to be headquartered in Tampa. The organizing group has filed applications with the Federal Deposit Insurance Corporation (FDIC) and the Florida Office of Financial Regulation to establish the Bank as a focused banking model designed to serve small businesses and their owners in the Tampa Bay area, with the 4ability to serve clients throughout Florida.
Florida has lost nearly 70% of its locally headquartered banks, reducing access to relationship-driven banking and shifting decision-making away from small businesses. New South Bank is being organized to restore a more responsive and consistent approach to small business banking, particularly for businesses that require timely decisions and reliable execution.
The Bank plans to offer a full range of commercial and retail banking products, with a strong emphasis on small business lending. The Bank will be anchored by specialized expertise in SBA and USDA-guaranteed loan programs.
“We are building New South Bank to address a clear need in the market,” said Kennard Page, proposed Chairman and Chief Executive Officer. “Small businesses are looking for knowledgeable banking partners who can deliver consistently and provide speed, transparency, and responsiveness.”
“Our model is designed to deliver consistent results at scale, where defined processes and integrated systems allow us to move faster, maintain discipline, and provide a better experience for our clients,” said Thomas Welsh, proposed President and Chief Financial Officer.
The Bank plans to establish an office in Tampa and will support clients through a combination of direct banking relationships and a centralized, technology-enabled model.
Board of Directors
Kennard Page
Proposed Chairman and Chief Executive Officer; experienced bank chairman and chief executive officer; former senior federal bank regulator with 35 years of experience supervising and examining national banks; prior director of multiple banking institutions
Thomas Welsh
Proposed President and Chief Financial Officer; former Chief Financial Officer of TCM Bank, N.A. and Executive Vice President and Chief Financial Officer of CapTec USA; Certified Public Accountant and CFA Charterholder
Bruce Burton
Entrepreneur and engineer; founder of multiple industrial and defense companies; former chairman of the U.S. Olympic Sailing Committee
Charles Race
Former federal bank examiner; former chief credit officer and chief executive officer of banking institutions; prior director of multiple banks
Dennis Ibold
Attorney; prior chairman and and director for 36 years of multiple banking institutions
George Isaacs
Thoroughbred horse farm operator; 2025 Preakness winner
James Hadel
Automotive and logistics executive; founder and president with extensive experience in supply chain management and operations, overseeing high-volume OEM logistics and distribution programs
Jeffrey Cathey
U.S. Navy Captain and fighter pilot with 29 years of service and over 100 combat missions; previously a senior executive at a national financial institution
Randolph Fields
Corporate and securities attorney; prior principal of a multi-location automotive group; prior director of multiple banking institutions
Webster Burton
Commercial real estate investment professional; board member of multiple private companies
About New South Bank
New South Bank is being organized to provide small businesses with a higher level of service, consistency, and execution quality, with a focus on small business lending, including SBA and USDA programs. The Bank's model combines successful, experienced bankers with defined processes and integrated systems designed to support efficient delivery from initial inquiry through closing.
The model is designed to scale efficiently while maintaining speed, consistency, and credit discipline. With a focus on owner-operated businesses, professional firms, and family-owned companies, New South Bank is intended to deliver a more efficient and predictable banking experience.
The Bank is committed to being a great place to work, with a focus on attracting and retaining high-performing banking professionals and fostering a performance-oriented culture aligned with long-term client outcomes and shareholder value. Several members of the Board have been associated with organizations recognized as top workplaces by sources including Fortune, Florida Trend, American Banker, and the Tampa Bay Times.
Those interested in learning more about New South Bank's vision and opportunity are invited to request an investor presentation at www.newsouthbank.com .